State College, PA · Pennsylvania
Centre County
158,041 residents295 permits TTM$72,748 median HHI31 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$308,100
ACS 5-Year
Cap rate proxy
4.6%
FMR × 0.65 ÷ Home Value
Rent-to-income
19.5%
HUD FMR ÷ ACS HHI
Net migration
+0.80%
IRS SOI
Permits (TTM)
295
Census BPS
Climate risk
68.0
FEMA NRI (0–100)
ZIP code breakdown31 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 16866 | — | — | — | 9.1% | — |
| 16874 | — | — | — | 7.1% | — |
| 16845 | — | — | — | 4.6% | — |
| 16854 | — | — | — | 6.2% | — |
| 16677 | — | — | — | 4.6% | — |
Ranked by composite score
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Demographics
Owner-occupied
61.8%
Census ACS
Vacancy rate
10.6%
Census ACS
Bachelor's degree +
46.5%
Census ACS
Rent burdened
52.4%
Census ACS (>30% income)
Median age
33.8
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026